Philips strengthens outdoor lighting portfolio with acquisition of street lighting controls business from Amplex
Amsterdam, The Netherlands and Aarhus, Denmark – Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it will acquire the street lighting controls activities of Amplex A/S, a Denmark-based provider of energy-efficient solutions. Upon closing of this transaction during the third quarter of 2010, which is subject to certain contractual and other conditions, the acquired business will become part of the Lighting Electronics business within the Philips Lighting sector. Financial details of this agreement were not disclosed.
“This acquisition further strengthens our offering of integral energy management solutions to municipalities, road authorities and utility companies,” said Hans de Jong, head of Philips Lighting Electronics. “This enables us to provide these customers with a system that delivers up to one third street light energy savings to municipalities, who typically spend 30 to 40 percent of their total energy budget on street lighting, thus significantly driving down their carbon footprint and electricity bill.”
Amplex delivers lighting controls systems used to manage millions of streetlights on a daily basis across many different countries around the world. Amplex’s lighting controls system is an automated management system that puts intelligent monitoring and control in every streetlight cabinet and ties them all together into a centralized streetlight management system.
The acquisition of the street lighting activities of Amplex further strengthens Philips’ global leadership position in lighting and supports growth of its outdoor lighting business. It follows last year’s acquisitions of Teletrol Systems Inc. in the U.S. and Dynalite in Australia also in this field.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs more than 116,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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